Safe Harbor Financial Launches $500K Green Loan Program for Cannabis Energy Efficiency | SHFS Stock News
Summary
Safe Harbor Financial, Collective Clean Energy Fund and Partner Colorado Credit Union Collaborate to Fund $500,000 Sustainable Upgrade Loan for Denver Cannabis FacilityGOLDEN, Colo., Dec. 04, 2024 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (Safe Harbor or the Company) (NASDAQ: SHFS), a leading provider of financial services and credit facilities to the regulated cannabis industry, announced the closing of a loan to PI 51st Avenue, LLC, a subsidiary of Pioneer Interests, Inc., d/b/a Natty Rems, LLC. Our collaboration with CCEF and PCCU exemplifies our ability to access resources from both nonprofit and financial institutions to offer cost-effective, environmentally conscious financing within the cannabis sector, setting a benchmark for responsible lending.Safe Harbors commitment to smart lending solutions is helping us take critical steps toward reducing our environmental footprint, while improving our operations, said Matthew Shifrin, CEO of Pioneer Interests, Inc. Were proud to partner with an organization that is pioneering green financial solutions within the cannabis industry and setting a standard for responsible operations.Paul Scharfenberger, CEO of Collective Clean Energy Fund, added, At Collective Clean Energy Fund, we believe that innovative financing solutions are key to building a sustainable future, especially in energy-intensive sectors like cannabis cultivation. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past eight years, Safe Harbor has facilitated more than in deposit transactions for businesses with operations spanning over 41 states and US territories with regulated cannabis markets.